Assenagon Asset Management S.A. Has $371,000 Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Assenagon Asset Management S.A. reduced its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 54.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,019 shares of the company's stock after selling 17,951 shares during the quarter. Assenagon Asset Management S.A.'s holdings in i3 Verticals were worth $371,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new position in i3 Verticals during the first quarter worth $6,711,000. NBC Securities Inc. grew its holdings in shares of i3 Verticals by 112,500.0% during the first quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock worth $27,000 after purchasing an additional 1,125 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of i3 Verticals by 2.2% during the first quarter. Rhumbline Advisers now owns 36,331 shares of the company's stock worth $896,000 after purchasing an additional 786 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of i3 Verticals by 11.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,298 shares of the company's stock worth $1,343,000 after purchasing an additional 6,018 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of i3 Verticals during the fourth quarter worth $294,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on IIIV. Benchmark restated a "buy" rating and set a $33.00 target price on shares of i3 Verticals in a report on Monday, June 16th. Morgan Stanley decreased their target price on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.57.

i3 Verticals Trading Up 2.4%

i3 Verticals stock traded up $0.60 during mid-day trading on Monday, hitting $25.22. The stock had a trading volume of 416,930 shares, compared to its average volume of 254,461. The stock has a 50-day simple moving average of $25.19 and a two-hundred day simple moving average of $24.90. The stock has a market capitalization of $837.81 million, a PE ratio of 5.73 and a beta of 1.22. i3 Verticals, Inc. has a 12 month low of $19.15 and a 12 month high of $29.80. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.02.

Insider Activity at i3 Verticals

In other i3 Verticals news, Director John C. Harrison sold 78,597 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total value of $1,949,991.57. Following the transaction, the director now owns 3,876 shares of the company's stock, valued at approximately $96,163.56. This represents a 95.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Geoffrey C. Smith sold 8,404 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $26.56, for a total value of $223,210.24. Following the completion of the transaction, the chief financial officer now directly owns 55,000 shares in the company, valued at $1,460,800. The trade was a 13.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 377,261 shares of company stock worth $9,374,552 over the last 90 days. Insiders own 59.07% of the company's stock.

i3 Verticals Company Profile

i3 Verticals, Inc provides integrated payment and software solutions primarily to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services. The company offers payment processing services that enables upper and lower court case management, collections, finance and accounting, motor vehicle and carrier registration, e-filing and taxation, license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software; assists public schools in completing payment processing functions, including accepting payments for online or at school lunches, and school activities.